Global Lithium-Ion Battery Market is estimated to reach $56 billion by 2024; growing at a CAGR of 10.6% from 2016 to 2024. Lithium-Ion batteries are primary batteries in which lithium compound acts as an anode. These batteries have a potential to achieve very high energy and power densities in high-density battery applications such as automotive and standby power. A lithium cell can produce voltage from 1.5 V to about 3 V based on the types of materials used. Lithium-ion (Li-ion) batteries have gained popularity as the power or energy source portable electronics to electric vehicles. Increased adoption of smartphones, tablets, and digital cameras among individuals pose an increased lithium-ion battery market trends.
Surge in demand for electronic devices, strict government regulations to control increasing pollution, and growing demand for smartphones are the major driving factors of the global lithium-ion battery market. However, high cost and risk of fire in electronic devices may hinder the market growth. Growth in automobile industry would increase the demand for lithium-ion batteries.
Material type, industry vertical, and geography are the major segments of the global lithium-ion battery market. The market by type is further segmented into cathode, anode, electrolytic solution, and others. Industry vertical segment include electronics, industrial, automotive, and others.
By geography, the global lithium-ion battery market is bifurcated into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers UK, France, Germany, and others. Asia-Pacific covers China, India, Japan, and others. RoW covers South America, Middle East and Africa.
Major companies operating in the lithium-Ion battery market are Automotive Energy Supply Corporation, Samsung SDI Co. Ltd., A123 Systems, LLC., LITEC Co., Ltd., Panasonic Corporation, Toshiba Corporation, LG Chem Power (LGCPI), Hitachi Chemical Co., Ltd., GS Yuasa International Ltd., and China BAK Battery Co. Ltd., and among others.
The key takeaways from the report
- The report will provide detailed analysis of Lithium-Ion Battery Market with respect to major segments such as material type, and industry vertical
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Lithium-Ion Battery Market has been included in the report
- Profile of the key players in the Lithium-Ion Battery Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of Lithium-Ion Battery Market
Material Type Segments
- Electrolytic solution
Industry Vertical Segments
- North America
- South America
- Middle East